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Archive
- 5/26/2023 -
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Euro Currency Trust (FXE) |
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| Summary:
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| | It was the negative week for the Euro Currency Trust (FXE). During the week, the FXE gave back -0.71 points, or -0.71%, and closed at 99.10 on Friday, May 26, 2023. Weekly volume was -76% below average.
 Long-term trend: [See FXE long-term trend chart]
A long-term downtrend had started on January 25, 2018 at 120.65 and reached 88.39 on September 27, 2022. FXE lost 32.26 points, or 26.74%, in 243 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 85.17 and resistance is at 111.98. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a long-term trend.
Medium-term trend: [See FXE medium-term trend chart]
A medium-term downtrend had started on January 6, 2021 at 115.86 and reached 88.39 on September 27, 2022. FXE lost 27.47 points, or 23.71%, in 89 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 78.91 and resistance is at 108.35. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See FXE weekly technical indicators chart]
Weekly technical indicators are neutral.
During the last week, weekly MACD line has moved below its signal line. Such crossover is considered a bearish signal. Use the following link to access a MACD help.
 Short-term trend: [See FXE short-term trend chart]
A short-term downtrend had started on May 3, 2023 at 102.35 and reached 98.88 on May 26, 2023. FXE lost 3.47 points, or 3.39%, in 23 days. The price is now at the 6.34% retracement level.
 Daily Technical Indicators: [See FXE daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold Williams' Percentage Range and Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.
The daily MACD line is below its signal line since April 24, 2023. This is an indication that the short-term trend is down.
A Parabolic SAR (stop and reversal) indicator (100.06) comes close to the price (99.10). It indicates that the trend is getting weaker. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
During the last week, the 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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